Insurance Ombudsman Rules

  Apr 07, 2021

Insurance Ombudsman Rules

Q Whys is  it in News? 

Recently, the Union government amended the Insurance Ombudsman Rules, 2017, bringing insurance brokers within the ambit of the Insurance Ombudsman and also allowed policy holders to file online complaints. These amendments will strengthen the timeliness and cost-effectiveness of the mechanisms.

Q Which provisions have been amended? 

Empowering Ombudsman:

The selection committee will now include an individual with a track record of promoting consumer rights or advancing the cause of consumer protection in the insurance sector.

What is the role of Insurance Ombudsman and what are laws governing the same?  

Duties and Functions:

Q Who can be selected as Insurance ombudsman and what is the procedure ? 

An Ombudsman shall be selected from amongst persons having experience of the insurance industry, civil service, administrative service or judicial service.

Procedure :

Term of Office:

Three years and it is eligible for reappointment provided that no person shall hold office as an Ombudsman after he has attained the age of seventy years.